The United States has subsidies for farmers in the United States which drives down the cost of food. Proponents of free trade argue that these subsidies are a form of government waste and that allowing the free market to work will produce greater competition to help keep food prices low. They also argue that the system had loopholes that contribute to excessive waste. Proponents of market intervention argue that subsidies are needed to keep farmers competitive with the rest of the world which also subsidizes their farmers. They also argue that lower food prices benefits outweigh the increase in tax to subsidize food.
Identify arguments for and against each side of the topic. What are the objectives of each side? ( please provide citation of website used)
In: Economics
Please answer the following:
How do the economic systems of Russia, the United States, the United Kingdom vary? How do political policies, property rights, and public choice system in Russia, the United States, the United Kingdom relate or differ?
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In: Economics
Research and read about universal healthcare efforts in the United States. Using approximately 200 to 400 words, provide the pros and cons of universal healthcare in the United States.
In: Nursing
The United States has experienced a large trade deficit in recent years. Analyze the implications of a growing trade deficit on the future growth of the United States USE CITATION
In: Economics
Discuss the extent to which aspects of labor relations in other countries should be adopted in the United States. For example, should the United States adopt mandatory works councils?
In: Economics
Why did America negotiate the Gadsden Purchase with Mexico?
Select one:
a. The United States could exploit rich iron deposits in northern Mexico.
b. The United States could acquire more slave-owning territory.
c. The Mexican government could obtain more hard currency.
d. The United States cold acquire the most advantageous southern route for a railroad to California.
In: Economics
A tariff is added United States soybeans by the Chinese Government. What happens to the price and quantity of United States soybeans in China? Use all the steps of the Hill method.Draw the before and after tables of comparative advantage.
The price of Soybeans is held below equilibrium in the United States. What happens to the price and quantity of soybeans? Use the Hill method. Draw the before and after tables of comparative advantage.
In: Economics
The average price for a gallon of gasoline in the United States is 3.75 and in Russia it is 3.37. Assume these averages are the population means in the two countries and that the probability distributions are normally distributed with a standard deviation of .25 in the United States and a standard deviation of .20 in Russia. a. What is the probability that a randomly selected gas station in the United States charges less than ________ per gallon (to 4 decimals)? b. What percentage of the gas stations in Russia charge less than _____ per gallon (to 2 decimals)? c. What is the probability that a randomly selected gas station in Russia charged more than the mean price in the United States (to 4 decimals).
In: Statistics and Probability
Historically the United States has always enjoyed being the world's largest producer of goods and services. However, it appears that all of that will change shortly. According to The Independent, in an article dated February 1, 2007, by the 2030s China's GDP will become larger than the United States' GDP based on their current growth rate and by the 2040s India's GDP will also become larger than the United States' GDP as well. This means that the United States will only be the third largest economy in the world (China will be first and India will be second). How do you feel about that? How might that impact the U.S. economy? What kinds of political impacts will it have?
In: Economics
A car can be produced by 20 workers in the United States, and by 10 workers in Germany. 1,000 chickens can be produced by 25 workers in the United States, and by 20 workers in Germany.
a) Using charts, show how a shift of workers toward one of the two industries in the United States, coupled with a shift of workers toward the other in Germany, could result in increased total production of both goods in the two countries.
(d) Suppose that when trade opens, the international price ratio settles at the former German price ratio. Using diagrams, show what happens to production, consumption, exports, and imports (i) in the United States and (ii) in Germany.
In: Economics